How to Make International Wire Transfers at SpectroCoin?

SpectroCoin has as one of its goals the development of financial services by creating a payment network accessible to people from all around the world. Recently, the international bank wire – an addition to deposit and withdrawal options for transferring funds outside and inside the European Union – has been added to our platform. To make the international wire transfer process clearer for you, we have prepared a blog post explaining step-by-step how to use it to make a deposit or withdrawal.

Starter kit

As a financial company, SpectroCoin commits to the standards of AML Directives: their purpose is to prevent the misuse of funds for money laundering and terrorist financing. By following their requirements, we have put AML and KYC procedures into effect.

The availability of international bank wire transfer in each country varies according to compliance, standards and risk management requirements. We apply such measures to protect our users and implement the best practices in the sector in order to ensure the security of the transfer.

In regards to the above, to make sure that you can transfer your funds via a international bank wire, please do the following:

1. Visit the page of SpectroCoin supported countries. There, check if your country of origin is on the list, then click on it and find all services available for you.

2. Verify your account. Only verified accounts can perform operations with fiat currency and, therefore, use the international bank wire. If you haven’t started your verification process yet, do so by clicking here, or read this blog post for more information.

One more step we recommend before you use the service is to check the “Fees and Limits” page – it contains information about deposits, withdrawals and its respective fees. At the moment, international bank wire transfers are available only for personal use, but we are working on enabling this option for merchants as well. We will keep you posted about our progress.

Send your Euros overseas

At SpectroCoin, international bank wire transfers can be made in Euros, which means you may send or receive only this currency. For exchanging, clients can use their bank services, but please note that your bank may apply additional fees which will not be visible on SpectroCoin’s platform.

Depositing funds

Deposits are easy to complete! You will first need to log in to your SpectroCoin account. After doing so, please head straight to the “Deposit” page, where all SpectroCoin supported wallets will be displayed. Select your Euro wallet:

To initiate a deposit, select your country from the drop-down list and insert the amount you wish to deposit:

Double check if the amount of the deposit is correct and proceed to the next step. If you need to make any corrections, do them before clicking on “Next”, otherwise you will need to restart the process!

In the Deposit options window, click on International Bank Wire, as shown below:

That is it – in the Bank deposit window you can see all details needed to initiate an international bank wire deposit:

Withdrawing funds

After logging in to your SpectroCoin account, click on Withdraw in the top menu. You will be forwarded to a window with all withdrawal options, where you have to select “Withdraw to bank”:

In order to send money overseas, you will need to fill in the details of your transaction in the form given and select the withdrawal type as international bank wire:

Make sure all mandatory fields are filled – they are marked with an asterisk. Also, double check if all details are correct. If you are certain that everything is correct – click on the “Submit” button!

Why details matter

Mistyping the receiver’s name or the account number while filling in the form is a quite common problem. Unfortunately, if you enter incorrect details, reclaiming your funds can be problematic and you might end up losing the funds.

If, unfortunately, you have mistyped a digit and sent your payment to the wrong place, act fast – contact our support team via the LiveChat as soon as you spot a mistake. It might not be too late to reverse your international wire payment.

Explore different ways to manage your funds

The diversity of choices is what makes SpectroCoin stand out from other exchange platforms. While international bank wire is a perfect fit for transfers overseas, it is just one of more than 30 different deposit and withdrawal options found at SpectroCoin. Log in to our website, and try it yourself by choosing your preferred currency and method.

If you need assistance when sending or receiving money through international wire transfers, our Support team is available 24/7 through the Live Chat on our website.